Horton Smith's family can be thankful no one ever cleaned out the closets.
His green jacket, a retroactive award for winning the first Masters golf tournament in 1934, fetched $682,229.45 in an auction Sunday, Green Jackets Auctions of New Jersey announced. The coat was recently found in a closet by a relative in Georgia.
According to the auctioneers, the amount of the winning bid was the highest ever paid for an item of golf memorabilia.
Smith won the Masters a second time in 1936. When Augusta National Golf Club began awarding green jackets in 1949, it gave them to previous winners, too.
A Missouri native, Smith won two PGA tournament at age 20, and he was 26 when he won at Augusta for the first time. He finished his career with 32 pro wins, and he was the PGA Tour's top money winner in 1936.
Smith died in 1963 at age 55.